Transition out of 51 facilities leased from Welltower Third, the Company will voluntarily delist its Class A common stock (the “Common Stock”) from the New York Stock Exchange and deregister its Common Stock under the Securities Exchange Act of 1934 (the “Exchange Act”). Second, Genesis entered into a definitive agreement with ReGen Healthcare, LLC (“ReGen Healthcare”) for a capital infusion of $50 million. In addition, Genesis will receive approximately an additional $170 million in debt reduction from Welltower upon the occurrence of certain conditions, including the transition of the 51 facilities. In return, Genesis will receive approximately $86 million, which it will use to repay a portion of its debt obligations to Welltower. (“Welltower”) and transition operations to new operators. (“Genesis” or the “Company”) (NYSE: GEN) announced today a three-part strategic restructuring plan to strengthen the Company’s liquidity position and capital structure as it charts a path to recovery.įirst, Genesis has agreed to terminate its master lease covering 51 facilities leased from affiliates of Welltower Inc. KENNETT SQUARE, Pa., Ma(GLOBE NEWSWIRE) - Genesis Healthcare, Inc. Initial capital investment results in two appointments to the Board of Directors and voluntary delisting from the New York Stock Exchange and deregistration under the Exchange Act Opportunity for an additional $25 million capital investment by April 15, 2021 Transformative steps reduce debt by approximately $256 million and include an immediate $50 million capital investment
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